The year 2021 was marked by the emergence of the NFT industry. According to a report from Chainalysis, a blockchain analytics firm, the industry surpassed $44 billion in value during this period. In addition, the enthusiasm for NFTs has enabled it to defend itself relatively well against the economic stress caused by the bear market. This indicates that non-fungible assets still have a bright future ahead of them. That said, despite the strong interest in NFTs, the market remains difficult to penetrate for new entrants. Fortunately, GhostMarket has, a marketplace NFT offers an intuitive platform that is accessible to everyone. In addition, the start-up recently implemented a very interesting incentive program to help traders optimize their returns over time.
What is Ghost Market?
GhostMarket is a platform specialized in trading non-fungible assets (NFT). It is the first marketplace to handle transfers cross chain of collectibles. In other words, it is possible to trade NFTs from different blockchains there.
In addition to buying and selling NFT, GhostMarket offers a wide range of services to enrich the user journey. Therefore, the platform is ideal for both novice and experienced makers, collectors and traders. Developers also have a slew of tools (APIs, SDKs, etc.) to create or extract NFTs from the system.
Currently, GhostMarket supports the following blockchain networks: BNB Chain, Polygon, Avalanche, NEO N3, and Phantasma Chain. However, future developments should include full support for Ethereum and Solana and later all other NFT protocols.
Why is this trading platform interesting?
GhostMarket has many advantages. The first is ergonomics. Indeed, the protocol has the particularity of facilitating the exploration of NFT technology. For example, platform users have a system of self mining. This speeds up and simplifies the process of issuing and listing NFTs. In addition, they benefit from a customizable navigation interface, including the ability to freely set the royalty rate for each sale.
Further, the platform offers users of multi-channel accounts, allowing them to navigate from one network to another without restrictions. In the same vein, GhostMarket offers an explorer with which it is possible to consult the different flows of the ecosystem: issues, quotes, transactions, burns, etc.
Another positive, GhostMarket offers a service non-custodial. Therefore, users have exclusive control over their secret keys. The security of the protocol is thus enhanced.
Finally, the team behind the project is very active social networks and respond to user needs.
The GhostMarket (GM) token
GhostMarket features an eponymous governance token, also known as GM. This last one works on all blockchains supported by the platform. To do this, the start-up has created a bridge that allows for the exchange of digital assets between separate networks.
That being said, GM Tokens are used as an incentive to promote community member drive. As such, they can be used to participate in the decentralized management process and acquire new tokens for freeair drops exclusive. They also make it possible to limit transaction costs and promote certain creators.
There are currently more than 23.9 million GMs in circulation. In addition, the GhostMarket token is traded on the following exchanges: Uniswap, Flamingo.FinanceMEXC Worldwide, Pancake Swap, Demex, QuickSwap and Trader Joe XYZ. All this for an estimated market cap of nearly $900,000 (at the time of writing). Moreover, the total supply is 100 million tokens. It should also be noted that the token is listed on Binance, CoinMarketCap, and CoinGecko.
The incentive program of the platform
Last month, the company announced the launch of its incentive program. The goal is to set up compensation mechanisms to distribute 6.5 million GM tokens to the most active users. This is based on parameters such as transaction volume, community involvement, etc. However, only the networks supported by GhostMarket are involved in the competition. Half of the announced incentives will be paid out by the end of October at the latest.
The distribution calendar corresponds to the following dates:
- 7/18/22 – 10/17/22: 3 Million Tokens (33,333 GM per day)
- 18/10/22 – 17/01/23: 2 Million Tokens (22,222 GM per day)
- 1/18/23 – 4/17/23: 1 Million Tokens (11,111 GM per day)
- 4/18/23 – 7/18/23: 500,000 Tokens (5,555 GM per day)
To date, GhostMarket has provided a more or less satisfactory response to market expectations in the context of NFT trading. Nevertheless, the start-up has concrete plans for the future. She recently threw an offer from liquidity turn of, accessible through PancakeSwap, Trader Joe XYZ and QuickSwap DEXs. At the end of August, the platform is expected to launch the turn of for GM tokens.